Pune, India, Aug. 10, 2022 (GLOBE NEWSWIRE) -- The global submersible pump market size is expected to grow from USD 12.95 billion in 2018 to USD 20.58 billion by 2026, exhibiting a CAGR of 6.0% during the forecast period. The growing concerns regarding environment will subsequently aid the development of the submersible pump market during the forecast period. Moreover, the rising emphasis regarding wastewater discharges will fuel demand for submersible pump, which in turn will boost the submersible pump market trends, states Fortune Business Insights™, in its report titled “Submersible Pump Market, 2021-2026.”
Rising concerns about water impact water systems installations, thereby contributing to market growth. In addition, the growing focus of key players towards enhancing and improving the operational performance of submersible pump will aid expansion of the market during the forecast period. For instance, in May 2019, Caprari, a world leader in pumps and centrifugal electric pumps announced to increase the operational performance of its submersible motor’s portfolio called MAC series. The improvement is achieved by using High Thrust (HT) bearings in the units to increase axial load resistance and durability of the products.
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Key Industry Development:
February 2020 – Tsurumi declared to hold dominating share in Obart Pumps Ltd., a UK based pump distributor. The merger is aimed to fortify the company’s presence in the regional market by offering new products & services to the users.
September 2019 – Sulzer introduced a new unit to its submersible dewatering pump offerings. The addition, namely, XJ900, is aimed to deliver reliable and economical operations owing to its low operational losses coupled with high-efficiency motor usage
COVID-19 Impact
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:
We analysed industry trends in the context of COVID-19. We analysed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyse the impact of COVID-19 on various regions and major countries.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast Period 2019 TO 2026 CAGR | 6.0% |
| 2026 Value Projection | USD 20.58 billion |
| Base Year | 2018 |
| Market Size in 2018 | USD 12.95 billion |
| Historical Data for | 2015-2017 |
| No. of Pages | 180 |
| Segments covered | Capacity, Pump Type, End User, Region |
| Growth Drivers | Rising Measures to Treat and Reuse Discharged Wastewater Will Propel the Industry Size |
| Increasing Agricultural Activities Is Set to Augment Industry Outlook |
Submersible Pump Market Drivers:
Increasing Agricultural Activities Is Set to Augment Industry Outlook
Water is the basic necessity needed by every individual to sustain, and depletion & contamination of water resources have risen grave concerns among nations. Consequently, different regional governments have implemented stern policies and guidelines to curb the mixture of released wastewaters into mainstream water reserves.
For instance, in May 2018, the government of Gujrat, a state in India, had introduced a policy named Reuse of Treated Waste Water Policy. The framework is aimed to reduce the reliance on the regional freshwater sources like rivers and support the setup of Sewage Treatment Plants (STP) in the state. Growing industrial and commercial infrastructures are driving demand for potable water, leading to an increasing installation of submersible pumps, thereby driving the growth of the market of the submersible pumps worldwide.
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Regional Insights:
Rising Mining and Construction Activities to Propel Market in North America
The market in North Americaa generated a revenue of USD 4.22 billion in 2018. The growth in the region is attributed to growing mining and construction activities. Additionally, the rising extraction of hydrocarbons from conventional and unconventional reserves will aid the market in North America. Moreover, the surge in chemical production will also spur opportunities for the market in North America. Likewise, the growing exploration activities for oil and gas will enable growth in the market. Asia Pacific is predicted to grow rapidly owing to the surge in construction industry in the developing countries.
Competitive Landscape:
Launch of UPA S 200 by KSB Group to Stimulate Market Growth
The KSB Group, a global supplier of pumps, valves and systems announced that it will unveil of its new UPA S 200 submersible borehole pump, designed for water supply, irrigation, groundwater management and pressure boosting applications, at this year’s IFAT trade fair, which is due on 7–11 September 2020. The announcement of KSB Group is likely to spur sales opportunities for the submersible pump market owing to its efficiency and hydraulic design, metal casing wear rings and silicon carbide bearings, leading to low energy consumption even when there is high grit contents in the fluid handled.
The Report Lists the Key Companies in the Submersible Pump Market:
- Crompton Greaves Consumer Electricals Limited (India)
- Sulzer (Switzerland)
- Pedrollo S.p.A. (Italy)
- ZUWA-Zumpe GmbH (Germany)
- Weatherford (U.S.)
- Homa Pumpenfabrik GmbH (Germany)
- Xylem Inc. (U.S.)
- Kirloskar Brothers Limited (India)
- oddesse Pumpen- Und Motorenfabrik GmbH (Germany)
- Zoeller Company (U.S.)
- KSB Company (U.S.)
- Quadt Kunststoffapparatebau GmbH (Germany)
- Multiquip Inc. (U.S.)
- TSURUMI PUMP (Japan)
- Hitachi America (U.S.)
- GRUNDFOS (Denmark)
- Caprari (Italy)
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Submersible Pump Market Segmentation:
By Capacity
- Low
- Medium
- High
By Pump Type
- Electrical Submersible Pumps
- Grinder Pumps
- Effluent Pumps
- Bilge Pumps
- Others
By End-User
- Residential & Commercial
- Water & Wastewater
- Mining
- Agriculture
- Oil & Gas
- Chemicals
- Construction
- Others
By Region
- North America (U.S. and Canada)
- Europe (UK, Germany, France, Italy, Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia Pacific)
- Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Submersible Pump Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Capacity
- Low
- Medium
- High
- Market Analysis, Insights and Forecast – By Pump Type
- Electrical Submersible Pumps
- Grinder Pumps
- Effluent Pumps
- Bilge Pumps
- Others
- Market Analysis, Insights and Forecast – By End-User
- Residential & Commercial
- Water & Wastewater
- Mining
- Agriculture
- Oil & Gas
- Chemicals
- Construction
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Continued…
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